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Extra Preparation for a High Net Worth Divorce in the Orlando, Florida Area

There is extra preparation needed for a high net worth divorce in the Orlando, Florida area. Here are some of the steps that will need to be taken to prepare for such a divorce.

Sort Out Trusts

First and foremost, you need to figure out if assets have been moved to a trust. If assets are in certain trusts such as a SLATS trust, they may be outside the marital estate. The attorney must have the trust listed as a party to the divorce, and the trustee must be served with the dissolution paperwork. 

Further, you will need to bring a trust attorney into the divorce realm as part of your team to assist your divorce attorney in preparing your case for Mediation and Trial. The trust attorney can guide you on how to deal with the trust during the high net worth divorce. You will need to determine what kind of trust you have. 

You will need to determine if the trust is revocable or irrevocable. Depending on your position in the case, you may want to try to modify or revoke the trust. The trust attorney can advise you on all this. The attorneys need to coordinate with the other experts and strategize how best to obtain the results just you wish to obtain. 

Talk to Financial Advisers

You will need to have your financial adviser, your CPA, and a financial expert involved in the process. They will also be part of your divorce team. You may need a forensic accountant too. They may assist you in tracing assets if there is dissipation of marital assets. 

These experts will need to help you determine all the assets and liabilities of the parties. They will need to determine if there are nonmarital assets or debts. 

Work with Appraisers

You will need appraisers to appraise your real property. You will need a business evaluator to value any businesses that you own. You may also need appraisers for jewelry, cars, boats, art, etc. depending on the assets you own. 

Other Steps to Take

You will need to determine if you want your dissolution of marriage case done collaboratively or if you want to litigate. 

If you have children, you may need a Guardian Ad Litem or custody evaluator. Your lawyer can help you determine whether this will be necessary. 

If you have more questions regarding a Marital and Family Law matter, you may call Ann Marie Giordano Gilden at Ann Marie Giordano Gilden, P.A. at 407-732-7620 and set an initial consultation. 

This article is for informational purposes only and does not form an attorney client privilege.